Kernel NZ Small & Mid Cap Opportunities Fund
Kernel NZ Small & Mid Cap Opportunities Fund is an aggressive KiwiSaver fund managed by Kernel. It has 102 members and holds $863,061. It opened in 2022.
Fees and returns
- Annual fee
- 0.25% of your balance each year
- Return over 1 year
- +11.9% a year
- Return over 3 years
- +6.6% a year
Figures are after fees and tax, as at Q3 2026, sourced from the FMA Disclose Register.
What it invests in
Australasian equities 100%.
Largest holdings
- Channel Infrastructure NZ Ltd 7.36%
- Vital Healthcare Property 6.44%
- Heartland Group Holdings Limited 6.29%
Year by year
| Financial year | Return |
|---|---|
| 2025/26 | +11.9% |
| 2024/25 | +7.3% |
| 2023/24 | +0.8% |
About this fund
The Kernel NZ Small & Mid Cap Opportunities Fund is a passively managed fund that tracks the S&P/NZX Emerging Opportunities Index, investing in New Zealand companies outside the NZX 20 with market values roughly between $75 million and $1.25 billion, across sectors such as real estate, technology, healthcare and tourism. Smaller companies can be more variable than large-cap shares. It carries an annual fund charge of 0.25%.